If they still have the title they probably can recover the cars…unless it’s been forged.
Phew, I forget but recently there was similar case where the consign company sold the cars and titled it in the buyers name…the sellers lost their supercars because of some law about good faith purchase.
The sellers had to go after the company only, their cars were lost.
The problem is finding the cars. Dealer never released where the car went. Could be on its way overseas. Or stripped for parts.
Most likely. I had an RX350 stolen in 2013 and found out it was up for sale in Nigeria in late 2014.
The exotic/very high end stuff goes to Asia generally.
Why would the consigner think they could scam so many people like this… they had to have known at some point rich people would want their money…
Why Madoffs exist…
Wasn’t that CNC.
Yeah some of them end up here - unless Interpol cares or it’s super high profile (in which it’d end up in a private collection).
Middle East, South-East, and East Asia.
Exactly. In these peoples heads they actually think they can keep paying off the next person with someone else’s money. In the meantime they show the bank all their sales and continue getting loans to finance their lifestyle. Part of the blame has to lay on the banks too for not doing DD. But to then it’s prob just the cost of doing business and isn’t worth doing forensic accounting on the little guys. After all the banks borrow at near 0 and can lend 10 times their reserves. Hard to lose with that sweet deal going on